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* + F4# *.& G# $ & G# G SIDISrtVUU@IB!&!!"&#S@B9IV69P99I !%! %! ' #%&'#()*+, #$.'.#'/ &#(, - "$#0 C!!C 0 !4H 4- 4C I C,4-,,C, ! " # ""#$!#% %#%#% 4!,,4!, N0C,4O4C,,:4C+! -,CD ! #&#%%# J !"1@##$ @1 J, $, #*# - .-./)01 )+. "#$ "%#&#'$#(() Government has also tried to Narendra Modi said the Family members may bring scheme will result in the dation roadmap of bringing it prepare a narrative that could Interim Budget was merely a down the landholding to avail Government breaching its 3.3 down to 3.1 per cent in 2019- ith an eye on the forth- be used to silence the “trailer” of what will guide of the benefits, affecting the per cent fiscal deficit target 20 and 3 per cent in 2020-21. Wcoming Lok Sabha Opposition and help the BJP in India towards prosperity after farm earning. from the current year. “We would have main- elections, Finance Minister convincing the voters that the the Lok Sabha polls, Congress The stock market gave the The populist measure will tained fiscal deficit at 3.3 per Piyush Goyal on Friday promise of “achchhe din” may president Rahul Gandhi said Budget the thumbs up with have far reaching impact on the cent for the year 2018-19 and offered a bouquet of relief to become a reality if Prime that the Government was giv- consumption, agriculture, and Government fiscal consolida- taken further steps to consoli- farmers, taxpayers, unor- Minister Narendra Modi gets a ing 17 a day to farmers after auto stocks stealing the show, tion target. For the next fiscal date fiscal deficit in the year ganised sector work- second term in office. “destroying” their lives in last but banking stocks remained also, Goyal pegged the fiscal 2019-20. However, considering ers, and real estate As expected the five years. depressed with the announce- deficit at 3.4 per cent of the the need for income support to developers. In the Government has kept its focus The sops offered by the ment that farm income support GDP, up from fiscal consoli- farmers, we have provided process, he slipped on large chunk of voting com- Government will undoubtedly 20,000 crore in 2018-19 RE on the fiscal munity — farmers, taxpayers, help it in the elections, but their (Revised Estimate) and 75,000 deficit target, and housing sectors that pro- implementation will be an crore in 2019-20. If we exclude raising concerns vides employment to millions arduous exercise. In a country this, the fiscal deficit would from various of laborers. The promise of with no reliable job data in the have been less than 3.3 per cent rating and bro- pension to workers of unor- unorganised sector, how the for 2018-19 and less than 3.1 kerage agen- ganised sectors is also seen as beneficiates will be identified is per cent for the year 2019-20,” cies. major decision that could be a million dollar question. !+!, way for revenue spending,” he said. The thrust turned into a “catch line” to For example, whether a Crisil said in a note on Friday. With farming community of the Budget is woo the poor. rickshaw-puller earns 15,000 ating agencies led by Crisil Meanwhile, it’s peer Icra up in arms against the on wooing The Budget exempted peo- or 20,000 a month is not eas- Rhave raised concerns over termed the “sharp rise” in rev- Government, Goyal both urban and ple with an earning of up to 5 ily verifiable. In most cases, the the curtailed capital spending enue deficit a “concern”. announced an direct income rural voters who lakh from payment of income Government may not have any to cap fiscal deficit at 3.5 per Terming the inability to support scheme for 12 crore rejected the BJP in tax and offered an annual cash option but to either go by self cent for FY18, and have warned meet fiscal deficit target for small and marginal farmers by the recent Assembly dole-out of 6,000 to small claim or determine an earnings the higher target for next fiscal four consecutive years as a big providing 6,000 in their bank elections of Madhya farmers while unveiling a estimate in various sectors. will delay the fiscal consolida- “credit negative” for the sover- accounts in three equal install- Pradesh, Chhattisgarh scheme to provide a monthly Similarly, the identifica- tion process by three years. eign, global rating agency ments in a year. and Rajasthan. By pension of 3,000 to workers in tion of farmers with up to two “It is the productive spend- Moody’s doubted if the coun- This is estimated to cost making a big pop- the unorganised sector. hectare holding is also not ing in the economy that has try will meet even the 3.4 per- 75,000 crore annually to the ulist push, the While Prime Minister going to be an easy exercise. seen a compromise, making cent fiscal gap target for FY20. Government. # #$ 5 *###* * >&/ #*## $ # * #.O $ * & # . # !$ D8% $## #! * # / # .$* D$!% ? # % #*# # . % # crore extra has been provided $B6 " $ @%666 % for the scheme in the revised , @ #" 0 4 %##*## * * 166 n a move to provide an estimate for the current fiscal. # ##$ ? # $ , %. Iassured income to the small The Finance Minister said, *# $ >6 and marginal farmers, the “This initiative will benefit 12 5 * $ #10 4 ,## Modi Government on Friday crore small and marginal farm- $ ! ! $ * 4 ##*16 announced a slew of measures, ers, at an estimated cost of including direct income sup- 75,000 crore.” # /A%1>> . $ 76%666/6%666 0 ! $ 51 &! port of 6,000 per year. The Finance Minister said, D$! * Presenting the Interim “This programme will be fund- Budget for 2019-20, acting ed by the Government of India. 0 # * * #E *$$ 16#.@6#. 0 4$ ## $ Finance Minister Piyush Goyal The programme would be 4 ## C 0. #! said under the Pradhan Mantri made effective from December # % 2/6 & Kisan Samman Nidhi (PM- 1, 2018 and the first installment ! 1&A#. # ## 5&7#. # * $$ KISAN), 6,000 annual sup- for the period up to March 31, 4 ## 4 @&7 port will be provided to farm- 2019 would be paid during this ers with land holding of two year itself.” "# hectare or five acre. Union Agriculture The new scheme will be Minister Radha Mohan Singh implemented from December hailed the Budget and termed 1, 2018 and the amount will be its historic one for farmers. paid in three installments of The assured income sup- 2000 (every four months) port is seen as an attempt to sector. The Budget announced It also exempted tax on tories, from one year to two through direct benefit transfer. assuage the farming commu- that capital gains of up to 2 notional rent on a second self- years, from the end of the year As many as 12 crore small and nity’s discontent ahead of the n a bid to boost the housing crore could be rolled over for occupied house. For develop- in which the project is com- marginal farmers are expected general elections. Isector which is facing a investment in two housing ers, the extended benefits pleted. “Currently, income tax to benefit from the scheme. The direct cash transfer multi-year demand slowdown, units from the current one under Section 80-IBA of the on notional rent is payable if Farmers who are sowing rabi was one of the highly antici- ism that this government the Narendra Modi unit only. Income Tax Act for one more one has more than one self- crops during the ongoing rabi pated and talked about seems to pride itself on. But Government on Friday pro- year to housing projects. It occupied house. Considering season will be benefitted from schemes in the interim Budget iyush Goyal delivered the Narendra Modi was elected on posed many tax sops to incen- applies to the projects approved the difficulty of the middle class the scheme. About 20,000 2019. Phis first budget in the Lok the promise of changing India, tivise purchase of second till March 31, 2020. This pro- having to maintain families at Sabha, and while it was an delivering growth and jobs homes, and also announced posal would boost supply of two locations on account of interim budget, it was that in that the allegedly corrupt UPA relief for realty firms by extend- affordable housing. Under their job, children’s education, all but name. With sops and had failed to deliver. He came ing tax rebate on development Section 80-IBA, 100 per cent care of parents etc. I am allocations increasing, Prime to power promising to break of affordable housing until deduction of profits is being proposing to exempt levy of Minister Narendra Modi’s the hold of Delhi’s power-bro- next fiscal and not charging tax provided to an assessee income tax on notional rent on hand was all over this budget. kers and middlemen and but for two years on notional rent engaged in developing and a second self-occupied house,” Even with recalculated figures only now, months before elec- of unsold units in the Interim building affordable housing the Finance Minister said. that display some growth, evi- tions are these networks being Budget 2019-20 to revive the projects subject to certain con- The Union Budget also dence of that growth is hard to attacked. But most important- housing sector. ditions related to carpet area proposed that the Tax come by. While the govern- ly, Modi had promised to mod- Presenting the Interim among others. Deduction at Source (TDS) ment might have disowned ernise India, and on that front Budget for 2019-20, Union To give impetus to the real threshold for deduction of tax the joblessness he failed, possibly Finance Minister Piyush Goyal estate sector, the Budget pro- on rent to be increased from statistics, it is dif- because he was also proposed certain incen- posed to extend the period of 1,80,000 to 2,40,000 for ficult for all but taken aback at the tives to individuals’ tax payers exemption from levy of tax on providing relief to small tax- those wearing saf- ‘suit-boot’ jibe that that would boost the real estate notional rent, on unsold inven- payers.

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